One provision of ECOA is that:

• A. A borrower must be provided with a copy of the valuation of their property promptly after it has been completed
• B. Valuations must be kept confidential from the borrower
• C. Valuation must be provided only upon request
• D. Lenders must provide valuation before underwriting

Answer: (A)

Under ECOA, borrowers have the right to see the appraisal or valuation used in a credit decision, and it must be provided promptly after the appraisal is completed. This requirement promotes transparency and fairness by letting applicants understand the basis for the lender’s decision and to spot any potential errors or biases in the valuation. It isn’t about keeping the valuation confidential, waiting until the borrower requests it, or sharing it only before underwriting—the valuation should be shared with the borrower promptly after completion so they can review it as part of the decision process.